Susquehanna Fundamental Investments LLC Boosts Stock Position in Fulton Financial Corporation $FULT

Susquehanna Fundamental Investments LLC boosted its stake in shares of Fulton Financial Corporation (NASDAQ:FULT) by 218.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 186,350 shares of the bank’s stock after acquiring an additional 127,863 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in Fulton Financial were worth $4,508,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of Fulton Financial by 4.9% during the first quarter. Royal Bank of Canada now owns 220,706 shares of the bank’s stock worth $3,992,000 after purchasing an additional 10,242 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Fulton Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,096 shares of the bank’s stock worth $1,955,000 after acquiring an additional 4,727 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Fulton Financial by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 448,832 shares of the bank’s stock valued at $8,119,000 after acquiring an additional 21,596 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Fulton Financial by 914.9% during the first quarter. Jane Street Group LLC now owns 308,243 shares of the bank’s stock worth $5,576,000 after acquiring an additional 277,871 shares during the period. Finally, Strs Ohio acquired a new position in shares of Fulton Financial during the first quarter worth about $152,000. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Fulton Financial

In other Fulton Financial news, Director Lisa Crutchfield sold 4,100 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $24.80, for a total value of $101,680.00. Following the sale, the director owned 7,838 shares of the company’s stock, valued at approximately $194,382.40. This represents a 34.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director E Philip Wenger sold 5,000 shares of the company’s stock in a transaction on Monday, July 13th. The shares were sold at an average price of $24.14, for a total value of $120,700.00. Following the completion of the sale, the director directly owned 75,477 shares in the company, valued at $1,822,014.78. This trade represents a 6.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.01% of the company’s stock.

Fulton Financial Trading Down 0.9%

Shares of FULT opened at $23.46 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average is $24.23 and its two-hundred day moving average is $22.33. Fulton Financial Corporation has a twelve month low of $16.60 and a twelve month high of $25.23. The firm has a market capitalization of $4.48 billion, a P/E ratio of 11.22 and a beta of 0.79.

Fulton Financial (NASDAQ:FULT) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.07. Fulton Financial had a net margin of 20.63% and a return on equity of 12.68%. The company had revenue of $367.87 million during the quarter, compared to the consensus estimate of $358.83 million. During the same period last year, the firm earned $0.55 EPS. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, research analysts predict that Fulton Financial Corporation will post 2.23 earnings per share for the current fiscal year.

Fulton Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, July 1st. Fulton Financial’s dividend payout ratio (DPR) is presently 36.36%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FULT. Raymond James Financial raised their price objective on shares of Fulton Financial from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Piper Sandler reiterated a “neutral” rating and set a $27.00 target price (up from $23.00) on shares of Fulton Financial in a research report on Monday, August 3rd. DA Davidson increased their target price on Fulton Financial from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Wall Street Zen raised Fulton Financial from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Fulton Financial in a research note on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.75.

Fulton Financial Company Profile

Fulton Financial Corporation, trading on the NASDAQ under the ticker FULT, is the financial holding company for Fulton Bank, headquartered in Lancaster, Pennsylvania. The company delivers a broad range of banking and financial services through its subsidiary, Fulton Bank, targeting both individual and corporate clients. Fulton Financial’s offerings include deposit accounts, lending solutions, treasury management, and specialized banking services designed to support personal wealth goals and business growth initiatives.

Through Fulton Bank, the company provides retail banking services such as checking and savings accounts, consumer and residential mortgage loans, and home equity products.